Industrial Packaging Market Insights Exploring Market Size, Key Players, and Growth Drivers through Rigorous Market Research and Analysis

The industrial packaging market size has grown strongly in recent years. It will grow from $74.35 billion in 2023 to $79.61 billion in 2024 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to globalization of trade, rise in manufacturing activities, stringent regulations, e-commerce boom, focus on sustainability.

The industrial packaging market size is expected to see strong growth in the next few years. It will grow to $104.93 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to evolving consumer preferences, rise in online retail, customization and personalization, circular economy initiatives, rapid urbanization. Major trends in the forecast period include smart packaging technologies, technological innovations in packaging machinery, advancements in smart packaging, increased focus on lightweight packaging, regulatory compliance and safety standards.

Market Overview -
Industrial packaging refers to packaging that helps protect, ship, and store delicate items that rely largely on stability. It is frequently used by producers of machinery, particularly delicate equipment, technology, and other products that need to be protected from anything from moisture to vibrations.

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Rising Global Demand For Food Products Sparks Growth In The Industrial Packaging Market
An increase in demand for food products across the globe is expected to propel the growth of the industrial packaging market. Demand for packaged foods is rising as a result of changes in consumer preferences, governmental regulations, and food storage. Many consumers now choose packaged food over unpackaged food as a result of the epidemic's growing food safety issue. By assuring the safe storage and handling of food goods, packaging materials play a crucial role in supporting the food sector. According to the Bizom data, an India-based Retail intelligence platform, the sales of packaged food increased by 95% year on year a few weeks before the holiday season, due to rising out-of-home consumption and ready-to-eat products. Therefore, an increase in demand for food products across the globe will drive the growth of the industrial packaging market.

Competitive Landscape -
Major companies operating in the industrial packaging market report are Westrock Company, International Paper Company, Amcor Limited, DS smith plc, Packaging Corporation of America, Mondi plc, Grief Inc., KEENER Corporation, Nefab Group, Myers Industries Inc., Schoeler Allibert AB, Menasha Corporation, Rohrer Corporation, UFP Technologies Inc., Rehrig Pacific Company, Ckdpack, PolyFlex Products Inc., GWP Group, Brown Machine LLC, Dunnage Engineering, Thermoflex LLC, Amatech Inc., MJSolpac Ltd., Package Design & Manufacturing Inc., Interior Packaging Design LLC, JIDA Industrial Solutions, Sohner Plastics LLC, Great River Plastics LLC, Electro-General Plastics Corp. , Artisanz Fabrication and Machine LLC, Dordan Manufacturing Company, Salco Engineering and Manufacturing Co. Inc., Sonoco Products Company, Ball Corporation

AI Revolutionizes Industrial Packaging Market Presence
Technological advancement is a key trend gaining popularity in the industrial packaging market. Artificial intelligence is helping firms employ computers and algorithms to produce better packaging solutions. AI is used in inspection, data labeling, recycling products, and various other applications. In April 2022, DHL Supply Chain announced a new on-demand packaging option to its business clients to make shipments more cost-effective and ecologically responsible. The AI-powered OptiCarton technology will aid in the optimization of box filling from a pre-configured set of cartons and even recommend breaking orders into many consignments to make individual shipments more cost-effective or lessen their carbon impact.

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Key Segments -

The industrial packaging market covered in this report is segmented -

1) By Product: Drums, Intermediate Bulk Containers (IBCs), Sacks, Pails, Crates/Totes
2) By Material: Paperboard, Plastic, Metal, Wood, Fiber
3) By Application: Chemical And Pharmaceutical, Building And Construction, Food And Beverage, Oil and Lubricant, Agriculture And Horticulture, Others (Plastics And Rubber, Automobile, Engineering, And Other Metal Products)

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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